New regulation of the PAÍS Tax collection regime RG 4659: RG 5468

General Resolution No. 5468/2023 (“GR 5468”) issued by the Federal Tax Authority (“AFIP”, as per its acronym in Spanish) on 22 December 2023 and published in the Official Gazette on 26  December 2023 and effective as of that date amends the AFIP´s General Resolution No. 4659 (“GR 4659”)  which establishes the form, deadlines, requirements and other conditions for the declaration and entry of tax returns), requirements and other conditions for the declaration and payment of the “Tax for an Inclusive and Solidary Argentina” (“PAÍS Tax”, as per its acronym in Spanish), both by the collecting agent and the taxable person) as from the new transaction levied by the PAIS TAX as set forth  by Decree 72/2023.

Mainly, it is pointed out that:

1.- GR 5468 replaces Section 1° of GR 4659, introducing a new regulation of the PAÍS Tax collection regime linked with the subscription of the Bonds for the Reconstruction of a Free Argentina (hereinafter, the “BOPREAL”) issued by the Central Bank of the Argentine Republic (“BCRA”, as per its acronym in Spanish), which is levied by the PAIS Tax.

2.- GR 5468 adds a third paragraph to Section 2° of GR 4659, establishing that the BOPREAL subscribers who are residents in the country are the taxable person of the PAÍS Tax collection regime.

3.- GR 5468 eliminates Section 4° of GR 4659 (on the determination and timing of the levy) establishes new criteria for the collection of the tax (including a legend “PAÍS Tax” in the documentation of the transactions) and determines, for certain transactions, the application of different provisions and the way of collecting the tax.

The levy shall be determined on the total amount in pesos of the transaction for the subscription of the BOPREAL and shall be made at the time of the debit of the subscription integration.

4.- The collection agent will deduct the amount paid as payment on account in the case of BOPREAL subscription operations carried out after February 1, 2024. 

5.- The purchaser, borrower, lessee and/or subscriber may request the refund of the tax collected from the corresponding collection agent, when the collection is not applicable. The operation will be subject to the control measures implemented by the AFIP.

To access the text of the GR 5468 please click here.

If you have any questions or require any additional information, please contact:

Liban A. Kusa: liban.kusa@bruchoufunes.com

Eduardo Mallea: eduardo.mallea@bruchoufunes.com

Ezequiel Lipovetzky: ezequiel.lipovetzky@bruchoufunes.com

Daniela C. Rey: daniela.rey@bruchoufunes.com

María Laura Bacigalupo: maria.laura.bacigalupo@bruchoufunes.com

Nicolas Nogueira Castellini: nicolas.nogueira.castellini@bruchoufunes.com

Pablo M. Muir: pablo.muir@bruchoufunes.com

It should be noted that the above is a general commentary on the standard and in no way presupposes an advice or opinion in a particular case. In such case, please contact the persons mentioned above.